AGNC Investment Cuts Its Dividend by 25%
AGNC Investment (NASDAQ: AGNC) is joining a growing crowd of financial services companies cutting or even eliminating their dividends. On Thursday, the mortgage real estate investment trust (mREIT) declared that its next monthly payout will be $0.12 per share, down 25% from the $0.16 per share it distributed Thursday.
In the press release announcing the new payout, the company said that the cut was "[c]onsistent with the decline in AGNC's book value during the first quarter of 2020 stemming from the financial market dislocations associated with the COVID-19 pandemic."
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Source Fool.com
